Rob Rubin, Novantas Managing Director, writes a weekly column for The Financial Brand
Millennials use ATMs more than older consumers, so they should be most interested in fee-free ATMs, right? Actually, that’s not the case.
Roughly one out of every five consumers shopping online for checking accounts are age 50 or older. To target this segment of checking shoppers, research says banks and credit unions should focus on search engine marketing, buying keywords like”surcharge free ATMs,” “free ATMs,” “online bill pay” and “overdraft protection.”
In a recent survey on FindABetterBank, about 18% of respondents currently shopping for checking accounts were over 50 years old, while 42% were under 30. Most acquisition marketing efforts are geared towards Millennials (and rightly so), but older consumers looking for new checking accounts warrant some attention as well.
Read the full article at The Financial Brand…